Cardano is an open-source project creating a decentralised platform which includes a cryptographic currency unit called ADA (equaling one million Lovelaces) and which allows complex, programmable transfers of value. The principal software stack powering the platfrom is called "Cardano Settlement Layer" (cardano-sl, written in Haskel), while its graphical desktop wallet client is known as "Daedalus". Cardano's ADA is a proof-of-stake cryptocurrency which uses a custom algorithm called "Ouroboros". The software is developed by Input Output Hong Kong (IOHK) and the entire project is managed by Cardano Foundation, a non-profit organisation.